Property, Plant and Equipment

12 Months Ended

Feb. 27, 2021

Property, Plant and Equipment [Abstract]


(In thousands)	2021		2020
Land	$	3,607	$	5,381
Buildings and improvements	204,660		210,171
Machinery and equipment	425,525		418,240
Office equipment and furniture	68,516		60,409
Construction in progress	13,750		17,496
Total property, plant and equipment	716,058		711,697
Less accumulated depreciation	(417,615)		(387,311)
Net property, plant and equipment	$	298,443	$	324,386

Depreciation expense was $43.9 million, $36.1 million, and $37.1 million in fiscal 2021, 2020, and 2019, respectively.

In September 2020, we sold a building in McCook, IL within our LSO segment for $25.1 million. The carrying value of the building was $4.3 million, and we recognized a gain on this sale of approximately $19.3 million, net of associated transaction costs, which is included as a reduction of selling, general and administrative expenses within our consolidated statements of operations. We entered into a separate operating lease agreement for this facility, which commenced in September 2020. Refer to Note 8 for related lease disclosures.

During fiscal 2021, we closed seven facilities within our Architectural Framing Systems segment, exited certain leases for those facilities, and provided certain termination benefits to employees across the company, resulting in restructuring-related costs of $5.8 million, of which $5.2 million is included within cost of sales and $0.6 million is included within selling, general and administrative expenses within our consolidated statements of operations.

Certain amounts associated with the restructuring expense incurred during fiscal 2021 are accrued as of year-end within accrued payroll and related costs and other current liabilities in the consolidated balance sheets, and are expected to be paid within the next fiscal year.


(In thousands)	Architectural Framing		Other		Total
Balance at February 29, 2020	$	—	$	—	$	—
Restructuring expense	5,281		554		5,835
Payments	(716)		(163)		(879)
Other adjustments	(739)		—		(739)
Balance at February 27, 2021	$	3,826	$	391	$	4,217